HIVE’s October Production Hits Record 289 BTC as Paraguay Expansion Powers AI Growth in Canada

Operational Efficiency at All-Time High With Paraguay Expansion

HIVE Digital Technologies delivered standout performance in October 2025, producing a record 289 BTC and surpassing 24 Exahash per second (EH/s) in operational mining capacity. The achievement follows the early completion of its 100 MW Phase 3 expansion in Paraguay, bringing its total installed capacity there to 300 MW. Notably, this milestone was reached approximately two weeks ahead of schedule, and the new infrastructure helped HIVE raise its global hashrate from 19.4 EH/s in September to an average of 21.9 EH/s in October—a 13% month-over-month gain.

Importantly, HIVE’s BTC production (+8%) outpaced the growth in Bitcoin network difficulty (+3%) in October—a sign of continued operational strength even as competition intensifies. Their network share now exceeds 2%, positioning HIVE among the world’s most efficient digital-asset operators.

Strategic Expansion Fuels Canadian AI Data Center Ambitions

Strong cash flow from record mining has allowed HIVE to double down on a major transformation in Canada: upgrading from traditional Tier I Bitcoin data centers to next-generation Tier III+ AI and high-performance computing (HPC) infrastructure. Through its BUZZ HPC subsidiary, HIVE is investing in a 70 MW campus conversion in New Brunswick—aiming to support up to 25,000 next-gen NVIDIA GPUs for enterprise AI workloads. This will be complemented by an upgraded 7.2 MW facility in Toronto, both focused on green, scalable, sovereign AI solutions for Canada.

Production Milestones Outpace Industry Trends

HIVE not only delivered a year-to-date production record but also maintained a fleet efficiency of 17.7 Joules per Terahash and achieved a peak hashrate of 23.6 EH/s during October. With Paraguay now fully operational, the company expects to reach 25 EH/s imminently, following intermittent power curtailments in Canada. Such efficiency provides leverage as network conditions shift—enabling HIVE to produce more Bitcoin at lower costs per coin compared to many competitors.

Key Takeaways: Momentum and Outlook

HIVE’s operational upgrades are tightly linked to a strategy of long-term value creation: each additional exahash not only boosts daily Bitcoin production but also strengthens the company’s ability to fund growth in the emerging AI and HPC markets. Management points to the company’s “twin-engine” model—balancing efficient Bitcoin mining with green AI compute infrastructure—as a means of both future-proofing its business and aligning with Canada’s innovation and sustainability goals.

Investors and observers may want to monitor HIVE’s upcoming Q2 2026 earnings (to be released November 14, with a conference call on November 17), as the company will detail progress on both mining and AI segments. With operational leverage in place and expansion projects on schedule, HIVE is emerging as a top player in sustainable digital infrastructure—potentially setting a precedent for peers seeking to diversify beyond mining into the broader AI economy.

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